The richest Americans are doing pretty well, as you might imagine.
New figures from the Federal Reserve show that the top one-percent of wage earners in the U.S. own more wealth than all middle class Americans combined.
But it’s close.
Through the first half of 2023, 26-and-a-half percent of all household wealth in the United States belongs to people whose income puts them in the top 1% of wage earners in the country.
That totals 38-point-seven trillion dollars.
Middle class households own 26% of the nation’s wealth.
The Federal Reserve does not break down how the wealthy people became wealthy.
Some might have inherited their money. Others may have worked hard, perhaps started a business, took some financial risks, paid their way through college, possibly took advantage of some good DNA and turned out to be star athletes, or simply married a wealthy spouse.
If none of those options has worked for you so far, you can always buys a Quick Pick Lottery ticket.
Business Man Displaying a Spread of Cash over a green vintage background.
Photo by Alpha Media USA Portland OR